George Pickens, Cowboys' 'Most Likely Scenario' for 2026 Revealed by NFL Insider amid Contract Buzz

Dallas Cowboys wide receiver George Pickens is an impending free agent after a breakout 2025 season, but "the most likely scenario" is for him to play 2026 on a franchise tag with the team, per Jon Machota of The Athletic.

Numerous sources, including Machota and ESPN's Todd Archer, have reported that the Cowboys plan to use the tag on Pickens. The big question is whether the Cowboys and Pickens can agree to terms on a long-term contract by a July 15 leaguewide deadline for tagged players. If they do, then Pickens avoids playing on the de-facto one-year contract.

Stephen Jones confirmed on Monday that the team would be placing the franchise tag on Pickens at some point:

Machota provided more information and context regarding a potential franchise tag and long-term deal, with eyes on Indianapolis' NFL Scouting Combine, which takes place this week.

"The combine is a time when the Cowboys' front office usually meets with numerous agents representing players on their team and across the league. Will they meet with Pickens' agent, David Mulugheta, in Indianapolis? The current plan is to use the franchise tag on Pickens in hopes of buying time to work out a long-term deal. If the new deal isn't reached, Pickens will likely remain under the tag, which would pay him around $28 million for the 2026 season. As unlikely as it seems, would the Cowboys consider trading Pickens? We're unlikely to get definitive answers, but there should be enough said to gauge how they're leaning."

Pickens, who turns 25 on March 4, played his first three NFL seasons with the Pittsburgh Steelers before they traded him last March to the Cowboys for a third-round pick.

That proved to be a great trade for the Cowboys, as Pickens caught 93 passes for 1,429 yards and nine touchdowns en route to helping Dallas score 27.7 points per game (seventh in the NFL).

Calvin Watkins of the Dallas Morning News reported that Pickens "seeks a contract of at least $30 million per season." The projected franchise tag for wide receivers is $28.8 million for 2026, per Over the Cap.

Eight wide receivers are currently playing on contracts worth $30 million or more per season, per Over the Cap. One of them is Cowboys wideout CeeDee Lamb, owner of a four-year, $136 million contract.

As far as big deals signed last offseason go, DK Metcalf signed a four-year, $132 million contract extension with the Pittsburgh Steelers, and Garrett Wilson inked a four-year, $130 million deal with the New York Jets.

Now Pickens hopes for his own monster contract.

In the meantime, the Cowboys have until March 3 to place the tag on Pickens. That seems like a formality at this point, and then the four-month clock officially begins for Dallas and Pickens to figure out something out.